New York State Insurance Law Section 5904 requires producers placing New York state business with risk retention groups not chartered in the state to report this business by March 15, 2023.
To comply with New York State Insurance Law Section 5904(c), if a business has been placed with a risk retention group not chartered in New York, the producer of record is required to report such business on the Statement of Business Placed with Risk Retention Groups not Chartered in New York form. This form is due no later than March 15 of each year.
To assist members in timely reporting, PIANY offers the statement form that needs to be completed and submitted. It should be mailed to the New York State Department of Financial Services, State of New York, Excess Line Unit, One State St., New York, NY 10004-1511. This form is not yet available in electronic format.
If you have any additional questions, PIA members can contact PIA’s Industry Resource Center at (800) 424-4244 or by emailing resourcecenter@pia.org.
Shirley Albright, CPIA, CISR
Shirley Albright, CPIA, CISR, has been a cornerstone of PIA since joining the association in 1983. Over the decades, she has contributed meaningfully across numerous departments, demonstrating unwavering dedication and leadership. In 1995, Shirley played a pivotal role in launching the Industry Resource Center, where she led the development of a comprehensive software system designed to log and manage all incoming and outgoing member inquiries—an innovation that transformed the center’s operational efficiency. As director of the Industry Resource Center, Shirley oversees the center’s daily operations, including the triage and resolution of thousands of member inquiries and multiple database updates, ensuring timely and accurate support across the organization. Her industry accomplishments include earning her New York state property/casualty broker’s license and has obtaining the CPIA and CISR professional designations, underscoring her deep expertise and commitment to excellence in the insurance industry.
